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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Celina, Tennessee, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city possesses 98 affordable units, all categorized as low-income. This inventory is substantial for Celina's estimated 2022 population of 2,321. Based on an approximate total housing stock of 889 units, LIHTC funded affordable housing comprises about 11% of the city's housing, approaching the 15-20% target for a well-balanced affordable housing inventory.
Celina has received $428,992 in project tax credits through the LIHTC program. With three projects, this equates to an average of $142,997 in federal funding per project, or $4,377 per unit. The city holds 0.09% of Tennessee's total LIHTC funding, representing a modest but significant portion of the state's affordable housing resources.
Affordable housing has been a consistent feature in Celina from 1991 to 2016. The initial project, Cherry Tree Apts I, was completed in 1991, while the most recent addition, Southern Oaks Apartments, was finished in 2016. This 25-year span demonstrates a sustained commitment to affordable housing. The 1990s saw the most development activity, with two projects completed during that decade. The largest project, Southern Oaks Apartments, added 42 units to the city's affordable housing inventory in 2016.
Celina's LIHTC-funded housing stock includes a variety of unit types: 46 one-bedroom units, 46 two-bedroom units, and 6 three-bedroom units. This range of unit sizes can accommodate various household compositions, from individuals to small families.
Over the past decade, Celina's population has fluctuated, reaching a peak of 3,211 in 2016 before declining to 2,321 in 2022. Despite this population decrease, the median income has shown an overall upward trend, increasing from $21,018 in 2013 to $31,701 in 2022. This rise in median income may indicate a changing economic landscape in the city.
The racial composition of Celina has remained predominantly white, consistently above 89% throughout the past decade. However, there has been a slight increase in diversity, with small but growing percentages of Asian, Black, and multi-racial residents.
The most recent LIHTC project, Southern Oaks Apartments, was completed in 2016, coinciding with the city's peak population. The subsequent population decline and rising median income may explain the absence of new LIHTC projects since then, as demographic shifts potentially altered the immediate need for additional low-income housing.
Celina demonstrates a significant commitment to affordable housing through its LIHTC-funded inventory. With 98 low-income units covering approximately 11% of the estimated housing stock, the city is progressing towards meeting affordable housing needs. The LIHTC projects span 25 years, indicating a long-term dedication to this cause. While recent demographic trends show a declining population and rising median income, the existing affordable housing stock continues to play a crucial role in the city's housing landscape. The diverse unit types available cater to various household sizes, contributing to a more inclusive community housing profile.